If you've never sold gold before, the process can feel uncertain. How do you know if you're getting a fair price? What happens during the testing? Can you say no after the valuation? Here are the five most important things every first-time gold seller in Sri Lanka should know.
1. You Don't Have to Accept the First Offer
A gold valuation is non-binding. A reputable buyer will test your gold, show you the purity and weight readings, calculate the price, and present an offer. You are completely free to say no. Your gold is returned to you immediately. Never feel pressured to accept on the spot.
2. Always Watch the Testing Happen
Insist that all testing — XRF scan, weighing, and calculation — is done in front of you. If a buyer takes your gold to a back room for testing, that is a red flag. At Vilva Gold Buyer, every step is done at the counter with you watching the screen.
3. Know Your Karat Before You Go
Check your jewellery for purity stamps — look for numbers like 916 (22K), 750 (18K), or 585 (14K) inside the band or on the clasp. This knowledge prevents buyers from misrepresenting the purity of your piece. If there's no stamp, XRF testing will reveal the exact purity.
4. Check Today's Gold Rate Before Visiting
Spend 2 minutes checking the live gold buying rate before you go. Visit Vilva Gold's price page — it shows you the current rate per gram for each karat. This gives you a reference point and makes you a more informed seller.
5. Bring Your NIC
For transactions over LKR 500,000, gold buyers in Sri Lanka are required by law to record the seller's identification. Bring your National Identity Card. For smaller transactions, it's still good practice to deal with buyers who request identification — it's a sign of a regulated, trustworthy operation.